Hello Fico, I am thinking about joining Alliant CU in order to apply for a personal loan in the future, (Credit builder), and have a couple of questions. I've been reading the forums a lot and it seems that CGID is the guy for that but wasn't sure if i could PM him just like that without any introduction.
So, is it still a good idea to apply for a loan thru Alliant and do the SSL Technique? I know they stopped doing the SSL, per se, but i wouldn't mind a hard pull on a Personal Loan in order to improve my credit Mix. ( I’m Not eligible for NFCU )
I have 3 Revolving Accounts. Clean report, 100% payment, no baddies at all. New to the game.
Cap 1 secured : $1151 CL – 1y 2months - Got an Auto CLI 5Months in. Just asked for another CLI online yesterday. Waiting on response. Lets see what happens. Trying to get it unsecured.
Chase FU : $4000 CL – 4months old.
Amex CM : $6000 CL – Opened 1/27/19 Hasn’t reported to CRA’s yet.
AAoA: 8 months
AoOA : 1y 2 Months, ( Super Newbie )
AoYA : 15days
UTL: 8%
Inquiries : EX – 4 / EQ - 1 / TU 1 ( Last inquire January 27th, Chase )
MyFico8 scores : EX 726 / EQ 747 / TU 732
Personal Income : $75.000,00
House Hold Income : $125.000,00
Applying for, and paying the donation for eligibility. How does that work ? Do I have to link an External account and do an ACH in order to be eligible? Do I have to open a Checking or Savings account immediately while doing the membership online ? If so, SP or HP for joining and opening account ? Do you think I’ll qualify for Membership with such young file and a 4/5K Personal Loan with them soon after the 6 months of membership? (Planning on having that amount in a savings with them, in order to “secure” the personal loan). Also, my scores are locked ? Should I unlock them before applying ? Chex Systems are clean and Unfreezed.
I have 2 Checkings, 2 Savings and 1 CD accounts with Chase and Capital One. ( Not sure if this interferes with application as I read here that some ppl got denied due to too many accounts. Also, do you think the new amex will be any issue ? Maybe I should Apply for membership before amex reports on March 8th?
Let me know if any other info is necessary to help you, help me. I’m all ears…
Any Advice is more than welcome !
Thanks in advance
I can't answer your question about the SSL. However, regarding membership, there is a free way to join. Members of the Freelancer's Union are eligible to join Alliant and, it is free to join the Freelancer's Union.
The instructions are posted on DoctorofCredit.com and you can find the instructions here:
https://www.doctorofcredit.com/alliant-2-5-card-now-available-alliant-members/
It is verified to work. In fact, I just did it myself a two weeks ago.
Thank you @Caardvark !!! I really appreciate the tip and the time. I just checked the link out. Awesome ! 👍
Thanks again. !!!
Thanks again. !!!
Glad it worked out.
Regarding your other questions: I do not know if you need to open a savings or checking account when you join but it's only a SP for both checking and savings so, I went ahead and did it. Alliant even puts $5 in your savings account for you (the minimum to remain open). So, I can't think of a reason why you shouldn't open the accounts. You can link your external accounts after they are setup/opened.
ALSO - While it is only a SP to open the accounts, I believe there is a HP if you enroll in overdraft protection. So, just be sure NOT to enroll in it if you are trying to avoid HPs
@Caardvark wrote:Glad it worked out.
Regarding your other questions: I do not know if you need to open a savings or checking account when you join but it's only a SP for both checking and savings so, I went ahead and did it. Alliant even puts $5 in your savings account for you (the minimum to remain open). So, I can't think of a reason why you shouldn't open the accounts. You can link your external accounts after they are setup/opened.
ALSO - While it is only a SP to open the accounts, I believe there is a HP if you enroll in overdraft protection. So, just be sure NOT to enroll in it if you are trying to avoid HPs
Since it's a credit union, you need to establish a savings account at a minimum to become a member. I've been with them for about 3 years, and have been extremely happy with their service, rates, and products!
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Thank you for your help guys. I’m checking everything out and might pull the trigger tonight or tomorrow. I’ll post feed back. Any chance anybody knows if I have to unlock my reports ? Stupid question I’m guessing. Noob here !
@Chelow wrote:
Thank you for your help guys. I’m checking everything out and might pull the trigger tonight or tomorrow. I’ll post feed back. Any chance anybody knows if I have to unlock my reports ? Stupid question I’m guessing. Noob here !
Yes, unfreeze Chex and I think they SP EQ for the regular accounts. (Might've changed though)
Ok. Thank you !!! Gonna unfreeze them all, just in case, and freeze back after app.
Appreciate the help.
Appreciate the help.
Hey,
Membership stablished. SP, not sure wich CRA yet. Thank you guys for the tips.
Awesome, congrats 😁 I hope your experience with them is as positive as mine has been!